ODEAN bio-tech company
The health care industry can be said to be a data-based industry. In Malaysia, there are many companies have begun to explore big data for development. They use big data in various area such as marketing, products, pricing, services, management, etc. to create medical, insurance, health care and other business prospects.
Big data marketing has a unique advantages in MLM and insurance industry. First, it requires massive of data amount and assistance of technology. The core is to predict the future value. If there is data shows that lemon juice mix with Panados (medicine) able to cure colds. Even that the company able to find out the specific pharmacological mechanism behind it, it has become less important. Because all what consumers wish to know is where to get the cheapest, even they do not when the shopping malls will cut the price. It doesn’t matter, because big data will tell consumers what it is, not the other way round.
Health industry example
For example, if data collect a personal data shown A like binge eating, we should recommend slimming medical products. For those who constantly drank wine, we should recommend liver-protecting drugs or introduce blood pressure-lowering health products to people with high blood pressure. These are the targeted customers who can be found through accurate data. Big data can be used to judge whether the customer can benefit from some customized health care products. At the same time, other health plans can be launched according to the needs, and even reward mechanisms can be set up to encourage customers to take the initiative complete the health treatments.
When developing health care products, they health care product entrepreneur should be based on market demand, innovate products or improve existing products, and improve their own competitiveness, so as to introduce personalized products for different customer groups to meet market needs.
Big data can be used to predict the patient’s susceptibility and other adverse conditions for certain diseases. This is helping them to reduce the time and cost of the treatment process, and achieve predictive effects by analyzing the customer’s personal health record and pharmacy data or through social networking sites. The client often inadvertently discloses the personal medical condition and collects it with data collection technology. This is to judge whether the customer has a chance to recover from chronic diseases by designs some insurance plan recommendations.
Insurance industry example